Riordan Forecasting free essay sample

Riordan Manufacturing has a reputation for preciseness and conception. It necessary for Riordan to develop a forecasting process that streamlines production and minimizes unsold inventory. Forecasts are vital to every business organization and for every significant management decision, (Chase, Jacobs, Aquilano, 2006). The process of forecasting is necessary not only for inventory and production, but also for budgetary and financial purposes as well. Without sufficient information to allow for lean production and maximization of profit, Riordan will continue to operate inefficiently and may eventually go out of business. Coordination between sales, marketing, and production and development will be required as part of the new production process. To accomplish this, Riordan will use several different forecasting methods to analyze their data and inventory. One such process is time series analysis. This type of forecasting will allow Riordan to scrutinize past data to project what products will necessary for future sales. Riordan will also use casual forecasting which means the company will assume that the demand for their products are based off of underlying environmental factors. We will write a custom essay sample on Riordan Forecasting or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Environmental or seasonal factors greatly effect the demand for Riordan’s product. A seasonal factor is the amount of correction needed in a time series to adjust for the season of the year, (Chase, Jacobs, Aquilano, 2006). Since the product is fans, it is acceptable to assume that demand for the product will increase seasonal by region. Hotter temperatures will warrant higher demand for the product and an increase in the sellable inventory and production speed. Cooler temperatures will create less demand and require less inventory and decreased production. As the world moves into green technology, Riordan will also be required to re-develop their product to be more energy efficient and therefore more desirable to the consumers. Riordan will use multiplicative seasonal variation to accurately forecast the need for the fans during seasonal transitions. In this case, the forecast will equal trend times seasonal factor. The first step in forecasting Riordan’s product needs begin at the grass roots level or the bottom tier of the company. This will require warehouse orkers to inventory parts, supplies, and fully assembled product in order to determine exactly what the company has on hand. This information will be carried forward to each level of the company until eventually the top tier of the company is reached. It is also recommended that Riordan hire an outside research company that specializes in market research in order to assist Riordan with their forecasting. Customers, clients, and vendors will be surveyed for feedback on the product. Employees will also be asked for feedback and input on the product. Employees will also be encouraged to share ideas to streamline the assembly process, reach the consumer faster with the product, and assist with the development of new product lines. It is important for Riordan to understand any residual errors in forecasting. Residuals occur when there are variances between the forecast and the actual results. Confidence limits will be established to allow Riordan to measure their forecasts and continue to accurately predict the future sales of the company.

Essay Sample on Stem Cells Will Help You Get Into Medical School

Essay Sample on Stem Cells Will Help You Get Into Medical SchoolHave you ever wondered why someone would write an essay sample on stem cells, the single greatest innovation in modern medicine? There are lots of reasons for wanting to learn more about this. You may be interested in how this advancement is helping people who have a variety of health problems.What these cells are and what you can do with them is very important. These cells are the result of scientific research. They can not only help you with your medical condition, but you can also use them to treat different kinds of diseases.Research has shown that adult stem cells can be used to help treat various diseases, including cancer. Many people are not aware of how they are treating the problems they have. Because of this, many people believe that if a person has a disease, there is nothing they can do about it.The reason these adult stem cells are so useful is because they help to stop cancer. This is why research is so im portant. If you want to learn more about this, you should look into studying this advance in medical science.To make sure you understand the benefits you can get from studying about the use of stem cells, you need to take an essay sample on stem cells. Make sure you cover the topics that interest you. Take notes about the strengths and weaknesses of the subject.The best way to write a college essay on stem cells is to look for a topic that relates to the paper you are writing. You may have an idea for your paper. This is where you can begin to explore your ideas.In the essay sample on stem cells, you will see what you can use to improve your chances of getting accepted into a medical school. It is important to have the best grades possible when you enter medical school. One small aspect can help you greatly.